KUALA LUMPUR: Foreign funds were net buyers for week ended on Nov 5, which saw a marginal net inflow of RM67.94mil during a short trading week and this extended the net buying to a fifth week, MIDF Research said.

       The research house had on Monday pointed out foreign investors were net buyers for most of the week despite the one-off prosperity tax announced in the Budget 2022 proposals.

       “Largest foreign inflow was recorded on Friday with the largest outflow on Wednesday to the tune of RM87.07mil and -RM94.20mil respectively,” it said.

       MIDF Research said retailers were net buyers every day for the week. The largest net buying by the retailers was recorded on Monday and the smallest net buying was on Tuesday at RM314.30mil and RM32.22mil respectively.

       “For the week, retailers were net buyers at RM469.34mil worth of equities in Bursa,” it said.

       The research house said local institutions recorded cumulative weekly net selling to the tune of -RM536.82mil.

       Since the beginning of 2021, cumulatively, retailers have been the only net buyers on Bursa to the tune of RM11.17bil.

       Local institutions and foreign investors were net sellers to the tune of -RM9.06bil and -RM2.11bil respectively.

       Maybank registered the second highest net money inflow of RM5.42mil last week. Its share price was -0.50% lower for the week, outperforming the local bourse which had a -1.46% weekly decrease.

       Inari saw the second highest net money inflow of RM3.27mil. Its share price was +2.07% lower during the week, outperforming the local bourse which was -1.46% lower.

       Nonetheless, it is notable that net money inflow amidst retreat[1]ing share price may indicate a buy on weakness (BOW) stance among some investors.

       PPB Group saw the third highest net money inflow of RM2.90mil. Its share price was -1.87% lower during the week, underperforming the FBM KLCI which fell 1.46% lower.

       However, Press Metal saw the largest net money outflow of -RM14.50mil last week. Its stock price fell -1.80% lower for the week.

       Top Glove recorded the second largest net money outflow -RM4.36mil during the week un[1]der review. Its share price was -8.82% lower during the week, underperforming the market benchmark which fell 1.46%.

       Meanwhile, CIMB registered the third largest net money outflow of –RM2.35mil in the review week. Its share price fell 2.87% during the week.